Good News From Pending Home Sales Report In TallahasseeWe should expect 2nd quarter closed home sales to be similar to last year, and perhaps even stronger, depending how the month of April fairs.http://www.realtown.com/TallahasseeRealEstate/blog/good-news-pending-home-sales
en-usRealTownTue, 03 Mar 2015 10:46:49 -0800The National Association of REALTORS® just released the new
Pending Home Sales report for
the US, and overall it appears as if the market showed some
signs of strength.

In Tallahassee, pending home sales (new
contracts submitted to the Tallahassee MLS) grew 4% from
February to March, and just under 1% growth year over year (March
2012 compared with March 2011). While this tiny growth not seem
like much, it sure beats the falling numbers that occurred in
three out of the four previous months.

Tallahassee Pending Home Sales Graph

The real estate graph below shows pending home sales
recorded as a daily tracking of the one-year trend. By recording
pending home sales in this fashion, we eliminate the
real estate seasonality that occurs during different times of
the year. Thus any movement in the graph reflects a subtle change
in the market.

As the yellow arrow highlights, we have been bumping along a
real estate market bottom defined as a daily average of 4 to 4.25
new contracts per day since November 2010. Had the government not
interfered by implementing the Home Buyer Tax Credit, this trend
likely would have begun one year earlier.

Year Over Year Pending Home Sales In Tallahassee

Our next real estate graph shows both the monthly changes as
well as the year over year variances in pending home sales for
the Tallahassee real estate market. As stated in the opening
paragraph, the month of March brought an increase in both of
these.

The yellow bars show year over year changes to the pending
home sales numbers in Tallahassee, and the reason for the poor
closed home sales reports that we saw in the first quarter are
clearly seen with the three consecutive declining months that
lead us into 2012 starting in November.

We should expect 2nd quarter closed home sales to be similar
to last year, and perhaps even stronger, depending how the month
of April fairs.

If you are thinking about selling a home in Tallahassee,
this is the time to do it. Values are dropping, but buyer
activity is as strong as we have seen in the past few years. Take
a lesson from the pending home sales report and get your home sold
now.